Sometimes it seems as if the giants of Silicon Valley can never fail. It’s a ceaseless system that runs on schemes of ‘fake it till you make it’ , relentlessly releasing incomplete products with the hope of perfecting them (quietly) over time. But what happens when that mentality makes its way to healthcare technology? When lives are truly on the line, can we afford less than perfect results? Proper testing and early detection are the gold standards for cancer care. If missed, the results could be deadly. This Blood Cancer Awareness Month, we’re featuring Bad Blood by John Carreyrou, a firsthand account of the Theranos fraud, and Elizabeth Holmes’ web of deception and power.
In 2015, Wall Street Journal journalist John Carreyrou was searching for his next big story. Having just finished a bombshell report on the fraud and abuse in Medicare that won him his second Pulitzer Prize, he received a tip that had the potential to take down one of Silicon Valley’s wealthiest startups. According to his source, feminist icon and media darling Elizabeth Holmes was a total fraud. The young Stanford dropout had the tech world and its rich investors convinced that her company, Theranos, could run any diagnostic test instantly with a single drop of blood. But that technology never existed. With her co-conspirator, Sunny Balwani, these scam tests were used all across the United States in hospitals, doctors offices, and even in pharmacy giant, Walgreens. Anyone who dared to speak out against the unethical practice and faulty tech, risked their career, reputation, and even safety. Bad Blood follows the youngest self-made female billionaire, whose pursuit of fame and power lead to deadly consequences.
“Her ambition was voracious and it brooked no interference. If there was collateral damage on her way to riches and fame, so be it.”
– John Carreyrou
A Financial Times and McKinsey Business Book of the Year, Bad Blood follows the ill-fated Theranos from its origins right up to its death blow “massive fraud” conviction by the Securities and Exchange Commission in March of 2018. A happy ending, thanks in no small part to the reporting done by Carreyrou. For Book Club Groups interested in the “True Crime” genre but not necessarily the kind with serial killers and occultists. What makes this particular account so compelling, is that as a beat journalist, Carreyrou finds himself in the middle of the action and potential danger. By exposing the dealings at Theranos, whistleblowers risked career suicide, their families were torn apart, they were hounded by high-end lawyers and they were even being tailed. Bad Blood isn’t sensational, and Carreyrou goes out of his way to stick to what’s known as facts up until the Epilogue where he gives the reader his personal thoughts into Elizabeth Holmes’ psychology, ambition and ultimate responsibility to her clients.
Holmes and Balwani are currently serving time in federal prison until 2032.
Further Resources:
‘Hot Startup Theranos Has Struggles With Its Blood-Test Technology’ (2015)
- The first investigative article published by John Carreyrou on Theranos
Bad Blood: The Final Chapter (2021)
- “John Carreyrou broke the Theranos scandal. Now he’ll take you into the courtroom as he examines Silicon Valley’s fake it-til-you-make it culture, and the case against Holmes.”
‘What to Read, Watch, and Listen to About Elizabeth Holmes and Theranos After The Dropout‘
- An article by TIME Magazine compiling the “podcasts, documentaries, and other projects have aimed to tell the story of one of the most famous scams in the history of Silicon Valley.”
If you’re interested in requesting Bad Blood for your book club, you can find the Request Form here. There are 9 copies (A librarian must request items)
Carreyrou, John. Bad Blood. Penguin Random House. (2018)
